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<blockquote data-quote="Up In Smoke" data-source="post: 5557098" data-attributes="member: 79702"><p>Yes and No.&nbsp; The TCJC passed in 2017 had a 5.5T dollar price tag.&nbsp; The 550B dollar yearly revenue added shortfall sent the debt to GDP to record highs in the next 2 years.&nbsp; The hope was that the TCJC would have corporations add to Capex through new hiring, retraining and expansion.&nbsp; Sadly, more than 75% of the tax savings went to stock buy backs and special dividends to stock holders.&nbsp; Thus, the TCJC didn&#039;t grow the GDP or employment as forecasted.&nbsp; In 2023, some of the tax credits are falling off the TCJC and revenues should begin to rise.&nbsp; We&#039;ve seen debt to GDP fall from 145% to 133% over the last 2 years.&nbsp; The tariff memorandum signed in March of 2018 was designed to increase tax revenues from Chinese manufacturers by 80B dollars yearly, but when China imposed their own against the US it became a lose, lose situation.&nbsp; We put tariffs on solar panels, washing/drying machines, aluminum and steel while they placed tariffs on oil and agriculture products.&nbsp; While we couldn&#039;t do without their products, they found other trading partners like Argentina and Canada.&nbsp; The US was paying farmers to not produce, because the product had no market in which to sell.&nbsp; The weak dollar along with our export problems drove our export deficit to record levels in 2018/19.&nbsp; To offset the shortage of tax revenue the treasury sold more and more treasuries to pay our debts and the M2 money supply went from 12T to 16T in just a couple years.&nbsp; Nearly 40% of the US (M2) money supply was added during the period from 2017-2021.&nbsp; Covid was the icing on the cake.</p></blockquote><p></p>

[QUOTE="Up In Smoke, post: 5557098, member: 79702"] Yes and No. The TCJC passed in 2017 had a 5.5T dollar price tag. The 550B dollar yearly revenue added shortfall sent the debt to GDP to record highs in the next 2 years. The hope was that the TCJC would have corporations add to Capex through new hiring, retraining and expansion. Sadly, more than 75% of the tax savings went to stock buy backs and special dividends to stock holders. Thus, the TCJC didn't grow the GDP or employment as forecasted. In 2023, some of the tax credits are falling off the TCJC and revenues should begin to rise. We've seen debt to GDP fall from 145% to 133% over the last 2 years. The tariff memorandum signed in March of 2018 was designed to increase tax revenues from Chinese manufacturers by 80B dollars yearly, but when China imposed their own against the US it became a lose, lose situation. We put tariffs on solar panels, washing/drying machines, aluminum and steel while they placed tariffs on oil and agriculture products. While we couldn't do without their products, they found other trading partners like Argentina and Canada. The US was paying farmers to not produce, because the product had no market in which to sell. The weak dollar along with our export problems drove our export deficit to record levels in 2018/19. To offset the shortage of tax revenue the treasury sold more and more treasuries to pay our debts and the M2 money supply went from 12T to 16T in just a couple years. Nearly 40% of the US (M2) money supply was added during the period from 2017-2021. Covid was the icing on the cake. [/QUOTE]

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